Donald Trump’s recent appointment of David Sacks as the “AI and crypto czar” signals a shift towards less regulation and increased innovation in technology and cryptocurrency. This move, influenced by tech leaders like Elon Musk, aims to provide clarity for the crypto industry and foster advancements across various tech sectors. Observers anticipate a more crypto-friendly environment in Trump’s second term, potentially revitalizing venture capital investments.
Institutional players are reshaping the Bitcoin market, potentially leading to reduced volatility and a more stable environment. The Bitcoin Reserve Act could trigger a global race for Bitcoin accumulation among nations, fundamentally altering market dynamics and investor behavior. As institutional adoption grows, the influence of external factors may overshadow traditional cycles, challenging the notion of predictable price movements.
ENS has launched Namechain, a Layer 2 network utilizing Linea’s zkEVM technology to enhance the speed and affordability of .eth domain transactions while maintaining Ethereum compatibility. This innovation aims to reduce gas fees and improve scalability, making domain registration and renewals more accessible for users and businesses alike. As a result, ENS has seen a significant price surge, with its market cap surpassing $1.4 billion.
Federal Reserve Chair Jerome Powell has stated that the Fed will not stockpile bitcoin, emphasizing that this issue is for Congress to address. The proposal for a U.S. Strategic Bitcoin Reserve, suggested by Trump, faces significant legal and regulatory hurdles, including potential Congressional approval and funding concerns. While Trump plans to appoint pro-crypto leaders, the Fed remains focused on monitoring the impact of cryptocurrencies on the banking system.
Venture capitalists are optimistic for 2025, driven by a surge in AI investments, which exceeded $87 billion in 2024. With anticipated regulatory rollbacks, sectors like fintech, energy, and especially crypto are poised for growth, while clean energy and electric vehicles may face challenges. The venture ecosystem is expected to improve compared to 2024.
Michael Saylor, co-founder of MicroStrategy, expresses optimism about the US under the leadership of newly appointed "crypto czar" David Sacks, who is expected to drive significant advancements in digital assets and financial innovation. Senator Cynthia Lummis also anticipates 2025 as a pivotal year for Bitcoin and digital assets, highlighting the potential for comprehensive legislation and a US strategic Bitcoin Reserve. Ripple CEO Brad Garlinghouse commends Sacks for his understanding of technology and his capability to support the White House's cryptocurrency and AI initiatives.
US lawmakers in the Senate Banking Committee have canceled a session to vote on Caroline Crenshaw's nomination for a second term at the SEC, making her confirmation before Republicans take control in January increasingly unlikely. Crenshaw, who has served under both Trump and Biden, faces opposition from crypto interest groups labeling her as "more anti-crypto" than SEC Chair Gary Gensler. If not confirmed, she may be replaced or her seat left vacant before 2026.
BVNK has secured $50 million in Series B funding, led by Haun Ventures, to expand its stablecoin infrastructure into the US, targeting San Francisco and New York City. The London-based company, valued at approximately $750 million, aims to develop local banking infrastructure and operational licenses, competing with established players like Paxos and Circle. With over $10 billion in annual payment volumes and a 200% growth rate, BVNK is positioned to capitalize on the anticipated growth of the stablecoin market, projected to exceed $1 trillion by 2035.
Broadcom's stock continued to rally, while Nvidia faced further declines, entering correction territory. Advanced Micro Devices is projected to miss revenue targets, raising concerns, as the Dow is set for a down open after eight consecutive sessions of losses. Retail sales exceeded expectations, and the Federal Reserve is anticipated to cut interest rates again, with key inflation data due later this week.
Anchorage Digital has secured a BitLicense from the New York State Department of Financial Services, allowing it to offer institutional clients a secure trading environment with deep liquidity and competitive fees. This move comes amid rising institutional interest in regulated crypto solutions, positioning Anchorage Digital as a leader in the sector. The firm plans to fully operationalize its expanded services by early 2025, enhancing its reputation and compliance in the complex regulatory landscape of digital assets.
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